The war in Food and Beverage for “Share” is being waged on a new battlefront!
Countless strategic planning meetings have been centered on the need to grow “Share of Market”. Laser focus has been applied to identify marketing vehicles and sales plans that would forward that agenda.
Not long ago, another form of share became the topic of many planning sessions, “Share of Stomach”. There was recognition that only a finite amount of food and beverage could be crammed down one’s gullet in a given day. Concepts such as “day part” segmentation and “functional food” grew out of this awareness.
I would argue that there is a new battlefront, “Share of Mind”. We are bombarded by information. Twitter, Facebook, Pinterest, blogs, Podcasts, television, magazines, etc. cram us with data. Much like food and beverage, there is a finite amount of information that can be consumed before one gets stuffed. Consumers are making both conscious and subconscious decisions every day as to what information to eat and what information to throw away. Marketers need to build their communication plan around this realty. Taking steps to make sure their communication is both relevant and easily digestible. The best content, the most imaginative creative, will serve no purpose if your audience is already full. Understanding how and when your target audience consumes its data will be key to executing an effective marketing campaign.
Those that understand this new battlefront and formulate a strong plan of attack will not only win “Share of Mind” but directly due to that victory, will experience gains in “Share of Stomach” and “Share of Market”
Thanks for reading,